L Brands (NYSE:LB) has been given a $60.00 target price by investment analysts at Robert W. Baird in a report issued on Thursday. The brokerage currently has a “hold” rating on the specialty retailer’s stock. Robert W. Baird’s price target would indicate a potential downside of 1.67% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Oppenheimer restated a “buy” rating on shares of L Brands in a research note on Thursday, October 5th. FBR & Co restated a “buy” rating and issued a $58.00 price objective on shares of L Brands in a research note on Wednesday, October 4th. B. Riley restated a “buy” rating and issued a $58.00 price objective on shares of L Brands in a research note on Thursday, November 2nd. Barclays started coverage on shares of L Brands in a research note on Tuesday, September 19th. They issued an “equal weight” rating and a $41.00 price objective for the company. Finally, Piper Jaffray Companies set a $42.00 price objective on shares of L Brands and gave the company a “hold” rating in a research note on Wednesday, October 11th. Six investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.45.
L Brands (LB) traded down $0.23 during trading hours on Thursday, reaching $61.02. 1,693,200 shares of the company traded hands, compared to its average volume of 4,209,671. The firm has a market cap of $17,288.75, a PE ratio of 18.55, a P/E/G ratio of 1.70 and a beta of 0.81. L Brands has a 1 year low of $35.00 and a 1 year high of $68.43. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10.
L Brands declared that its Board of Directors has initiated a stock repurchase plan on Monday, September 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, Director David T. Kollat acquired 9,910 shares of L Brands stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $50.34 per share, with a total value of $498,869.40. Following the purchase, the director now directly owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.68% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its holdings in L Brands by 14.3% during the 2nd quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock worth $5,142,000 after buying an additional 11,967 shares during the period. Swiss National Bank raised its holdings in L Brands by 2.8% during the 2nd quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock worth $47,719,000 after buying an additional 24,300 shares during the period. Bridgewater Associates LP raised its holdings in L Brands by 16.5% during the 2nd quarter. Bridgewater Associates LP now owns 81,603 shares of the specialty retailer’s stock worth $4,398,000 after buying an additional 11,570 shares during the period. Fosun International Ltd raised its holdings in L Brands by 205.4% during the 3rd quarter. Fosun International Ltd now owns 532,022 shares of the specialty retailer’s stock worth $22,137,000 after buying an additional 357,797 shares during the period. Finally, Pring Turner Capital Group Inc. acquired a new stake in L Brands during the 2nd quarter worth approximately $2,689,000. 78.68% of the stock is currently owned by institutional investors and hedge funds.
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About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
